Published: 2025-04-11T07:51:26.000Z
Chart EUR/AUD Update: Extending rebound from 1.7700 support
Technical Analyst
1
Extending rebound from the 1.7700 support through the 1.8200 level sets up scope for retest of the 1.8400 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.8600 | * | congestion | S1 | 1.8000 | * | figure, congestion | |
| R3 | 1.8555 | ** | 9 Apr YTD high | S2 | 1.7700 | * | 61.8% 2020/2022 fall | |
| R2 | 1.8500 | * | 76.4% 2020/2022 fall | S3 | 1.7520 | * | 3 Apr high | |
| R1 | 1.8400 | * | congestion | S4 | 1.7415/00 | ** | Mar high, congestion |
Asterisk denotes strength of level
07:50 GMT - Extending rebound from the 1.7700 support through the 1.8200 level sets up scope for retest of the 1.8400 congestion. Beyond this will see room for retest of the 1.8500, 76.4% Fibonacci level and the 1.8555 high. Overbought daily and weekly studies suggest the latter keeping out of reach further extend consolidation below the 1.8500 level. Meanwhile, support is raised to the 1.8000 level which is expected to underpin. Would take break here to open up room for retest of the 1.7700 support and deeper pullback to 1.7520 then the critical support at 1.7415/00.